SELBYVILLE, Del. -- Global Market Insights, Inc. has published a new report with an overview of the global furniture market which forecasts that the market will exceed $885 billion by 2026. Increasing adoption of modular and self-assembled furniture will induce significant growth potential in the furniture industry landscape.
Proliferating demand for modular and ready to assemble furniture is providing a strong growth outlook with increasing consumer expectations for shorter delivery time. Industry players are using automated manufacturing techniques that GMI expects to eliminate the need for shifting manufacturing operations to lower-cost regions. Increasing trends towards online furniture sales and changing consumer dynamics from traditional hardwood furniture to economical and disposable furniture is propelling industry growth.
Some major findings of the furniture market report include: Changing architectural trends towards traditional and organic design; Proliferating e-commerce distribution model; Consumer inclination towards modular and ready to assemble furniture.
Constant changing architectural trends are influencing the furniture industry thereby resulting in shifting consumer inclination towards organic and traditional furniture designs.
The wooden segment dominates the industry share and is anticipated to showcase continual growth outlook over the projected timeframe. According to United Nations Economic Commission (UNEC) in 2016, China imported over 6.5 million square meters of tropical sawn hardwood as compared to 5.5 million m3 in 2015, justifying growing domestic and export market. See https://www.gminsights.com/industry-analysis/furniture-market
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